Daily Reading – Monday, May 23, 2011

Macro Man: Dam Breach!

And we are off! The roll-over that TMM has been waiting for in their JSTFR plan has arrived.

The Big Picture: Puru Saxena on Why QE3 is Inevitable

Puru Saxena of Puru Saxena Wealth Management explains to CNBC Asia why QE3 is all but a done deal and what effects it will have when it comes…

The Big Picture: A Losing Bet: The End of the World

If you are reading this, it means that the end of the world, previously scheduled for 1994 Saturday night, did not occur.

Why anyone pays attention to these dang fools is one of the more annoying vestiges of the 2007-09 recession and market collapse. The rise of the cranks is a classic example of the Recency effect, an after the fact, 20/20 hindsight, rear view look at the world.

FT Alphaville: Meanwhile, in the Spanish periphery…

Zapatero! Zapped!

The FT reports on Monday that initial results from the weekend’s Spanish regional elections show hefty losses for the ruling Socialist party — with the right-wing opposition making inroads into towns run by the Socialists since the 1970s. That outcome, the FT says, reflects widespread discontent with the way prime minister José Luis Rodríguez Zapatero has handled the economic crisis. Or, la austeridad.

FT Alphaville: Iceland’s second volcano e-raptures

Uh oh. Remember this time last year when Iceland’s Eyjafjallajökull volcano was causing £130m worth of losses a day for airlines?

Well, bang on time for the rapture, Iceland’s second and most active volcano Grimsvoetn has began erupting…

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